An increasing number of businesses have been forced to become self-reliant as they fail to secure essential funding from the banks, a new report suggests.The Voice of Small Business, an annual survey by the Federation of Small Businesses (FSB), showed that that 41 per cent of small firms are relying on personal savings to continue operations.A large proportion of companies are also dependent on negative equity to survive, which is amounting to further debts.Some 43 per cent used their overdrafts last year, while 21 per cent used a personal credit card. The FSB stated: "This may be an indication of self-reliance as they encountered a banking sector which refused to lend."It also revealed that small businesses have had a tough ride during the recession, with 52 per cent reporting fallen profits in 2009.Many firms have had late access to government payments, which has affected their reliance on credit cards and savings.For free advice on how to make a PPI Claim – Payment Protection Insurance claim or a credit card charges claim then call Belmont Thornton on 0845 526 0000 or fill in the Quick Claim form to be sent a free PPI Claim pack or credit card charges claim pack.
Belmont Thornton Ltd. is regulated by the Ministry of Justice in respect of regulated claims management activities; our registration is recorded on the website www.claimsregulation.gov.uk number 18273
Belmont Thornton Ltd. is incorporated in England and Wales, Company number 6621233, whose head office and registered office is at Suite 2, Unit 25, The Coda Centre, Munster Road, London, SW6 6AW. VAT Registration number 945 3375 06.
Belmont Thornton Ltd is registered with the Information Commissioners Office to ensure compliance with the Data Protection Act 1998 registration number Z1728023 and holds a Credit Consumer License issued by the Office of Fair Trading license number 634655.
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* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are no upfront costs to pay. Our fee only becomes payable on a successful outcome of a claim. A cancellation fee is payable if you decide that having instructed Belmont Thornton to act on your behalf, and after 14 days of signing your Letter of Authority, you do not wish to continue pursuing your claim with us. The cancellation fee is the reasonable costs incurred for the work undertaken. Please see our terms of engagement.